Analysis of the Impact of Quantitative and Qualitative Price-setting Attributes on a Market of Real Estate Intended for the Purpose of the Transformer Stations on the Example of Krakow

Abstract

Based on appraisal reports, obtained from the City Office of Krakow, there were formulated base of real estate properties on which is situated the building of transformer station or which are intended for such purpose. The base consists of 90 properties located in the administrative boundaries of the city of Krakow. Most of these properties are the plots of very small areas, mainly in the range from 30 to 70 square meters. Based on the completed database, there were conducted a statistical analysis of the relevant market the property. In order to determine the relationship between the attributes and the price of real estate, there were calculated coefficients of the Pearson complete correlation and coefficients of the Spearman correlation. The analysis showed significant differences between quantitative and qualitative correlation coefficients for some variables. In order to improve the consistency of the database, using statistical methods eliminated property turned out. Finally, the analysis considered two bases, numbering respectively 90 and 77 real estates. In the following values, there were defined standardized regression coefficients (scale 9), the partial correlation coefficients for the dependent variable (price) relative to the rest of variables and coefficients of determination. On the basis of calculations and analysis, there have been drawn conclusions on the impact of each attribute on the market prices of these unusual properties.